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the somnambulist

the somnambulist


Footware (please excuse the spelling)

I got mugged for the second time this year. Last time it was my digital camera, this time it was my footwear. I got up late(9ish) on Sunday morn. and had just finished my morning ablutions when one of my PG mates started searching for his leather sandals. The search took him to the main shoerack where the 10 of us keep our shoes. To mine and his amazement the shoerack was virtually empty, with all branded shoes missing. It took us a while to realize that we had been robbed early in the morning. What must have happened is that someone must have left the door ajar for an hour or so. Sensing the oppurtunity thieves must have sneaked in and made away with all our shoes.

Now what's interesting about the theft was that nothing else of value was touched. This points to the existence of theives who come in with the primary intent of selling shoes. The fact that no unbranded shoe was taken points out to the fact that the thieves are educated enough to distinguish between brands and are aware that branded shoes fetch a greater price on the seconds market. A little bit of asking around showed that shoe theft is very common in Bangalore. Now this points to the existence of a active seconds market in Bangalore and surrounding areas where branded shoes are sold at great discounts. With rising income levels and greater purchasing power of the populace,people have started indulging themselves in high end footwear. Branded shoes have become a norm and have become a necessity for peer acceptance.

Even the cheapest piece of branded footwear costs more than Rs 1000 (20$). Considering that the population of Bangalore is about 65 lacs (6.5M) and at least half of the population can afford branded shoes, the branded shoe market in Bangalore works out to 300 crores(60M$). Now, if 30% of the population is susceptible to footwear robbery, the robbery market in Bangalore is somewhere close to 90 crore rupees (18M$). If the robbed items are sold at a discount of 50%, the seconds market still is somewhere close to 45 crore rupees (9M$). Thats a lot of money to be made and criminal elements have realised the oppurtunity waiting for them.

What can be done to stop such thefts? People would suggest excercising extra caution, keeping footwear under lock and key and what not. None of them are viable solutions, the primary reasons being:

  • Footwear doesnt merit elaborate security measures to make them theft-safe.
  • Footwear thefts rarely get reported to authorities irrespective of the value involved.
  • Footwear is a replaceable commodity, and it hardly takes someone a month to replace stolen footwear.
  • Branded footwear is a necessity in a social context, especially among todays youth.

So is there something that can be done? Probably, but the ball is in the court of the enforcement agencies of the Govt of India. Rather than trying to stop footwear thefts, an effort can be made to track down the resell channels of such stolen footwear in Bangalore and sorrounding areas. Due to the lower value/weight(Rs/Kg) of footwear, they dont make ideal candidates for transportation over long distances.

This means that all stolen footwear has to resurface in near shore markets. That should makes things easier for enforcement agencies. If the resell points are shut down then the incidence of such thefts will fall dramatically. Footwear is not edible. So no resell would mean no reuse and would consequently mean no value for the stolen goods.


7 Comments:

At 1:25 AM, Anonymous Anonymous said...

Mama,

Tere sitare to gardhish main hai. Koi bhi tereko shendi lagake jarela hai. Zara sambhal ke.

 
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We may own, take position and sell any securities mentioned at any time. Any statements that express or involve discussions with respect
to predictions, goals, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are
not statements of historical fact and may be "forward, looking
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Forward,|ooking statements in this action may be identified through the use of words such as: "projects", "foresee", "expects". in compliance with Se'ction 17. {b), we disclose the holding of EGTY shares prior to the publication of this report. Be aware of an inherent conflict of interest resulting from such holdings due to our intent to profit from the liquidation of these shares. Shares may be sold at any time, even after positive statements have been made regarding the above company. Since we own shares, there is an inherent conflict of interest in our statements and opinions. Readers of this publication are cautioned not to place undue reliance on forward,looking statements, which are based on certain assumptions and expectations involving various risks and uncertainties that could cause results to
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or informational purpose only and you should seek professional advice from registered financial advisor before you do anything related with buying or selling stocks, penny stocks are very high risk and you can lose your entire investment.

 
At 1:24 AM, Blogger Foot Care said...

I would like everyone who has heel pain, heel spurs or plantar fasciitis to know that there is Instant help for your heel pain. There is a new shoe cushion called "Heelbillys" and rightfully so because they are not your typical orthotic, but believe me they work and there is nothing on the market like them.
They can only be bought online at; www.heelbillys.com and cost only $15.00.


They are tall, soft cushions made out of a special foam and they fit inside your shoe right under your heel and feels like you are walking on a pillow. They give instant relief.
I have been wearing them now for over 3 months and my heel is so much
better that I can now walk without them but today's shoes are so poorly
cushioned that I don't take the chance because I don't want the excruciating pain that I had to come back. Today’s shoes are so poorly cushioned that even people who don’t have heel pain should get them to avoid heel pain problems, especially if they walk a lot. Sometimes the simple things work better than the expensive things that are just designed to cost a lot of money to make it seem like they are effective. Heelbillys are simple, and inexpensive but they are effective. You owe it to yourself to try them, and you won’t be disappointed, you can get instant relief.

 
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